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Resolution 9662
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Resolution 9662
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Last modified
1/28/2025 4:54:58 PM
Creation date
12/8/2022 10:31:16 AM
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MV Commission Documents
Commission Name
City Council
Commission Doc Type
Resolutions
MEETINGDATE
11/28/2022
Commission Doc Number (Ord & Res)
9662
Supplemental fields
City Council Document Type
Resolutions
Date
11/28/2022
Resolution/Ordinance Number
9662
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EXHIBIT A <br />NOTICE OF PUBLIC HEARING <br />ON A HOUSING PROGRAM AND THE ISSUANCE OF CONDUIT REVENUE BONDS FOR <br />A MULTIFAMILY HOUSING PROJECT <br />(REUTER WALTON PROJECT) <br />NOTICE IS HEREBY GIVEN that the City Council of the City of Mounds View, Minnesota (the <br />"City") will conduct a public hearing on , 2023 at 7:00 p.m., or as soon thereafter as the matter <br />may be heard, at the City Hall at 2401 Mounds View Boulevard in the City on (i) a proposal of the Reuter <br />Walton Companies LLC, a Minnesota limited liability company (or another entity to be formed by or <br />affiliated with Reuter Walton Companies LLC, the "Borrower") that the City finance the acquisition, <br />renovation, construction, and equipping of a rental housing development, hereinafter described, by the <br />issuance of conduit revenue bonds or other obligations, in one or more series at one time or from time to <br />time (the "Bonds") pursuant to Minnesota Statutes, Chapter 462C, as amended, and (ii) the adoption of a <br />housing program for such bonds. <br />The Bonds are proposed to be issued to (i) finance the acquisition, construction and equipping of a <br />4-story building with approximately 140 rental housing units, related amenities and underground parking <br />all to be located at 2310 Mounds View Boulevard in the City (the "Project"); (ii) fund one or more reserve <br />funds to secure the timely payment of the Bonds, if necessary; (iii) pay interest on the Bonds during the <br />construction of the Project, if necessary; and (iv) pay certain costs of issuing the Bonds (collectively, the <br />"Project"). The Project will be owned and operated by the Borrower. <br />The estimated maximum aggregate principal amount of the Bonds to be issued to finance the <br />Project is $23,000,000. <br />The bonds or other obligations if and when issued will not constitute a charge, lien or encumbrance <br />upon any property of the City, and will be payable solely from revenues of the project, and will not be <br />backed by the full faith and credit of the City but will be payable solely from sums paid by the Borrower <br />pursuant to a revenue agreement. <br />Following the public hearing, the Council will consider a resolution approving a housing program <br />prepared in accordance with the requirements of the Act and granting approval to the issuance of the Bonds. <br />A copy of the housing program will be on file at City Hall, Monday through Friday during the City's normal <br />business hours until the date of the Public Hearing. <br />At the time and place fixed for the Public Hearing, the City Council will give all persons who <br />appear or submit comments in writing to the City Council prior to the hearing, an opportunity to express <br />their views with respect to the proposal. In addition, interested persons may file written comments <br />respecting the proposal with the City to the attention of at (763) 717-4000 at or prior to <br />said public hearing. <br />Publish 52023. <br />MU210-306-835396.v1 A-1 <br />
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